Colorado § 10-2-410 Temporary licensing

Colorado Statutes

§ 10-2-410 — Temporary licensing

Colorado·Title 10 Insurance·Art. Licenses

(1)The commissioner may issue a temporary license to an individual to act as an insurance producer for a period not to exceed one hundred eighty days, without requiring an examination, if the commissioner deems that such temporary license authority is necessary for the servicing of an insurance business in the following cases:

(a)To the surviving spouse or next of kin, or to the executor or an employee, of a licensed insurance producer who becomes deceased;

(b)To the surviving spouse or next of kin, or to an employee or the legal guardian, of a licensed insurance producer who becomes disabled;

(c)To a member, employee, or officer of a licensed insurance agency or business entity, licensed as an insurance producer upon the death or disability of an individual designated in or

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(1) The commissioner may issue a temporary
license to an individual to act as an insurance producer for a period not to exceed
one hundred eighty days, without requiring an examination, if the commissioner
deems that such temporary license authority is necessary for the servicing of an
insurance business in the following cases:

(a) To the surviving spouse or next of kin, or to the executor or an employee,
of a licensed insurance producer who becomes deceased;

(b) To the surviving spouse or next of kin, or to an employee or the legal
guardian, of a licensed insurance producer who becomes disabled;

(c) To a member, employee, or officer of a licensed insurance agency or
business entity, licensed as an insurance producer upon the death or disability of an
individual designated in or registered as to the agency or business entity license;

(d) To the designee of a licensed insurance producer upon entering active
service in the armed forces of the United States;

(e) To any person in any other circumstance where the commissioner deems
that the public interest will best be served by the issuance of such license.

(2) The commissioner may, by order, limit the authority of any temporary
licensee in any way deemed necessary to protect insureds and the public. The
commissioner may require the temporary licensee to have a suitable sponsor who is
a licensed producer or insurer and who assumes responsibility for all acts of the
temporary licensee. The commissioner may impose other requirements designed to
protect insureds and the public. The commissioner may, by order, revoke a
temporary license if the interest of insureds or the public are endangered. A
temporary license may not continue after the owner or the personal representative
disposes of the business.

Colorado § 10-2-410 (Temporary licensing) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 93: Entire article R&RE, p. 1362, � 1, effective January 1, 1995. L. 2001: IP(1) and (1)(c) amended and (2) added, p. 1201, � 17, effective January 1, 2002.